India rice prices reach 4-month high as supplies decline in Asia
Published on: January 20, 2024.
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Parboiled Rice Prices Surge in Top Exporting Countries
The prices of parboiled rice exported from major hubs like India, Thailand, and Vietnam have reached their highest levels in months. Despite sluggish demand, the prices have been fueled by reduced paddy availability and strong government buying.
India
India’s 5% broken parboiled variety is now being quoted at $525 to $535 per ton, the highest level since September. Reduced supplies caused by strong government purchasing have contributed to the increase in prices.
Thailand
Thailand’s 5% broken rice prices have also experienced a surge, climbing to $665 per ton. The increased prices are attributed to strong demand from Indonesia and African markets.
Vietnam
In Vietnam, prices of the 5% broken rice have remained steady at $653 per metric ton. With buyers awaiting new supplies from the winter-spring harvest, demand is not currently strong, but Vietnamese rice exports are expected to remain robust.
Bangladesh
Despite good yield and reserves, rice prices in Bangladesh have risen by 5 Bangladeshi Taka ($0.0457) this week. The government has blamed hoarding by unscrupulous businesses for the price increase and has warned millers and traders to bring down prices or face stern action.
The price surge in parboiled rice in these major exporting countries is driven by factors such as reduced supplies, increased government buying, and strong demand from markets like Indonesia and Africa. With new supplies expected to enter the market soon, the situation is likely to stabilize.
For more information on rice exports and suppliers, visit rice exporters and Pakistan rice exporters.
Source: BRecorder News
